The jackpot for the MEGA Millions draw on Fri May 17, 2024, is projected to be $393 Million, with an option for a cash payout of $181.5 Million. Should you be the lucky winner of the MEGA Millions jackpot, anticipate the IRS to initially withhold 24% of your winnings for taxes, and be prepared that you might need to pay up to an additional 13% in federal taxes at tax time. For Wisconsin residents, the state will deduct 7.65% from your lottery earnings.
| Wisconsin MEGA Millions Jackpot/Cash Option for Fri May 17, 2024 |
|---|
| Draw Date | Fri May 17, 2024 | | Projected Jackpot | $393,000,000 | | Cash Value | $181,500,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $181,500,000 | | Federal Tax(24%) | $43,560,000 | | Additional Federal Tax | $23,555,330 | | State Tax(7.65%) | $13,884,750 | | Net Lumpsum Payment | $100,499,920 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$5,915,043 |
$2,148,896
$452,501 |
$3,313,646 |
| 2 |
$6,210,972 |
$2,258,390
$475,139 |
$3,477,443 |
| 3 |
$6,521,442 |
$2,373,264
$498,890 |
$3,649,288 |
| 4 |
$6,847,632 |
$2,493,954
$523,844 |
$3,829,834 |
| 5 |
$7,189,935 |
$2,620,606
$550,030 |
$4,019,299 |
| 6 |
$7,549,530 |
$2,753,656
$577,539 |
$4,218,335 |
| 7 |
$7,926,810 |
$2,893,250
$606,401 |
$4,427,159 |
| 8 |
$8,323,347 |
$3,039,969
$636,736 |
$4,646,642 |
| 9 |
$8,739,534 |
$3,193,958
$668,574 |
$4,877,002 |
| 10 |
$9,176,550 |
$3,355,654
$702,006 |
$5,118,890 |
| 11 |
$9,635,181 |
$3,525,347
$737,091 |
$5,372,743 |
| 12 |
$10,116,999 |
$3,703,620
$773,950 |
$5,639,429 |
| 13 |
$10,622,790 |
$3,890,763
$812,643 |
$5,919,384 |
| 14 |
$11,154,126 |
$4,087,357
$853,291 |
$6,213,478 |
| 15 |
$11,711,793 |
$4,293,694
$895,952 |
$6,522,147 |
| 16 |
$12,297,363 |
$4,510,355
$940,748 |
$6,846,260 |
| 17 |
$12,912,015 |
$4,737,776
$987,769 |
$7,186,470 |
| 18 |
$13,557,714 |
$4,976,685
$1,037,165 |
$7,543,864 |
| 19 |
$14,235,639 |
$5,227,517
$1,089,026 |
$7,919,096 |
| 20 |
$14,947,362 |
$5,490,854
$1,143,473 |
$8,313,035 |
| 21 |
$15,694,848 |
$5,767,424
$1,200,656 |
$8,726,768 |
| 22 |
$16,479,669 |
$6,057,808
$1,260,695 |
$9,161,166 |
| 23 |
$17,303,397 |
$6,362,587
$1,323,710 |
$9,617,100 |
| 24 |
$18,168,783 |
$6,682,780
$1,389,912 |
$10,096,091 |
| 25 |
$19,077,006 |
$7,018,823
$1,459,391 |
$10,598,792 |
| 26 |
$20,031,210 |
$7,371,878
$1,532,388 |
$11,126,944 |
| 27 |
$21,032,574 |
$7,742,383
$1,608,992 |
$11,681,199 |
| 28 |
$22,084,242 |
$8,131,500
$1,689,445 |
$12,263,297 |
| 29 |
$23,188,572 |
$8,540,102
$1,773,926 |
$12,874,544 |
| 30 |
$24,347,922 |
$8,969,062
$1,862,616 |
$13,516,244 |
|
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